Vietnam should follow Russia’s regulations on quality standards so that Vietnam itself does not lose its brands in Russia market as well as keep Vietnam’s brands sustainable.

“Now, five brands named Viet Tien supply products many countries all over the world. Garment and textile market in Russia has an enormous purchasing power but the majority of goods are made in China and Turkey. The quality of these items can not be as high as the made-in-Vietnam,” said Mr. Nguyen Dinh Truong, General Director of Viet Tien Garment Export and Import Corporation.

Garment and textile products are various in Russia. Products can be manufactured at many different grades: high, middle, and low with the selling price of a chemise from 50 US Dollars to 150 US Dollars.

Russia is imposing regulations on restricting contrabands for domestic industries; therefore, tariff barriers are high. Thus, it is high time to plan to bring machinery, equipment, and human resources to Russia but a framework is needed.

“One hundred thousand Vietnamese living in Russian have advantages in understand market and being familiar to the Russian geography. Vietnam’s companies can made use of this source to spread their products and brands. Vietnam should follow Russia’s regulations on quality standards so that Vietnam itself does not lose its brands in Russia market as well as keep Vietnam’s brands sustainable,” said a company leader.

“Forms of payment are factors causing difficulties to companies. Up to now, through many channels, these factors are still maintained. However, for long term, we need a bank that supports companies most effectively,” said Mr. Truong Quoc Cu, General Director of Minh Hoa Company. Mr. Nguyen Van Huy, General Director of Viet Nga Bank, stated that this bank will solve this problem on the best way it can in order to settle the payment for companies.

Bridges for companies to Russia’s market

“For a long time, Russian partners have just known Vietnam through wars. Now, some trade centers established by Vietnamese fall in to oblivion because they do not know how to protect or lose their brands themselves. As a company has operated for many years in Russian Federation, we see Vietnam’s companies improve considerably when visiting home country. Articles such as agricultural products, foodstuff, aquatic products, jewels and gems, garment and textile products, mechanical items, and so forth can compete successfully in Russia market. Vietnam’s companies in Russian Federation look forward to more and more enterprises joining Russia market. We should show our national tradition and help each other to succeed in foreign markets,” said Mr. Bui Van Hoa, President of the Board of Directors of Mekong Emeral Trade Center.

“Vietnam’s companies still lack information on Russia, which causes them vague understanding of Russia market. When surveying Russia market, several Vietnam’s companies acquire full understanding of market as well as consumer taste there. This is the foundation to improve trade relations between Vietnam and Russian Federation in the period of economic integration,” said Duong Trong Dat, Editor-in-chief of Sai Gon Giai Phong Newspaper.

Today, 17th August, delegation surveying the Russian Federation market is going to visit Milton Factory, which specializes in manufacturing garment and textile products and shoes in Chekhov, one hundred and twenty kilometer far from Moscow.